Taki Games, a prominent social gaming network known for offering real money rewards to its users, is expanding its horizons by partnering with Genopets. This collaboration aims to extend the “move-to-earn” concept, a rapidly growing brand within the Solana blockchain ecosystem that has attracted a large player base.
Set to launch in April 2024, Genopets Match will join an expanding lineup of Web3-branded games on Taki’s Solana-based platform, such as Puzzle Smoofs, Game7 Food Fighter, and Pac-Cats. Through this partnership, Taki Games aspires to introduce billions of mobile gamers to Web3, enhancing the gaming experience with rewarding opportunities by collaborating with numerous top Web3 brands and communities.
Taki Games’ decentralized network revolutionizes mobile gaming by incorporating tokenized rewards and ownership of gaming assets, fostering a player-owned ecosystem. This approach not only offers developers new revenue avenues but also allows them to share success with their players. As a pioneer in the “play-to-earn” (P2E) gaming trend, Taki Games seeks to refine the model with a tokenomics structure designed to prevent token hyperinflation. This strategy aims to ensure players receive a fair portion of the over $200 billion annually generated by the gaming industry.
Central to Taki’s model is the TAKI token, featuring a “buy-and-burn” mechanism to sustain its value while motivating gamers to engage and earn. The developer team behind Taki includes the founders of Kabam, a leading studio in the free-to-play mobile and social gaming sector.
Genopets stands out in the Solana blockchain ecosystem as a top free-to-play mobile game with a vast active player base. The game, reminiscent of classics like Pokemon and Tamagotchi, involves nurturing NFT-based digital pets. It offers extensive customization and evolution options for the Genopets, adding depth and variety to the gameplay. Ahead of its public V1 launch, Genopets is integrating with Taki’s network to broaden its audience, encouraging new users to join through a special airdrop.
Both Taki and Genopets are committed to mainstreaming the Web3 industry, attracting a diverse audience including Solana token holders, NFT enthusiasts, and digital asset collectors. Jay Chang of Genopets expressed excitement about partnering with Taki Games to introduce mainstream gamers to the next generation of Web3 gaming.
This partnership marks a significant milestone in Taki Games’ journey, which has seen a 3,000% network growth since its pivot to Web3 gaming. Now ranked among the top dApps in the Polygon Proof-of-Stake ecosystem and across all blockchain networks, Taki’s success is evident in its native TAKI token’s trading volume and the widespread adoption of its mobile gaming app. Taki Games CEO Weiwei Geng envisions the company as Web3’s Zynga, aiming to drive mainstream adoption of Web3 through engaging gaming experiences and ownership opportunities.
This collaboration between Taki Games and Genopets illustrates the transformative potential of Web3 technologies in redefining traditional video game engagement and growth, promising a new era of enhanced value and opportunities for developers and gamers alike.
In a notable development within the cryptocurrency market, a pseudonymous analyst known as Rekt Capital pointed out that the meme-based cryptocurrency FLOKI could be on the brink of a significant price increase.
Rekt Capital, sharing insights on the platform X, highlighted, “FLOKI is in the process of retesting its final major resistance as new support (black).
Successful retest would send #FLOKI to new highs. Needs to continue to hold here.
Retest is in progress.” This statement sets the stage for FLOKI’s potential market performance.
The analysis included details on FLOKI facing two pivotal resistance levels at $0.000021 and $0.0000625. In the realm of technical analysis, resistance levels are thresholds where the sell-off pressure surpasses buying interest, thus capping the asset’s price increase.
Breaking through a resistance level could transform it into a support level, indicating a strong buying interest that prevents further price declines.
Rekt Capital suggests that FLOKI has surpassed a significant price challenge and is now testing this boundary as a support level, potentially solidifying its position and preventing further declines.
The spotlight on FLOKI also comes at a time when the coin has engaged in significant token burning activities, effectively reducing its circulating supply.
READ MORE: Starknet to Harness Ethereum’s Dencun Upgrade for Major Fee Reductions and Enhanced Scalability
Recently, over $1 million worth of FLOKI tokens were burned, followed by another substantial burn amounting to $3.2 million.
This reduction in supply has been further supported by the FlokiFi Locker, a DeFi protocol that purchases and burns FLOKI tokens, aiding in the scarcity of the asset.
Additionally, data from Santiment, an analytics platform, indicates an increase in social dominance for Floki, hinting at a growing interest and potentially positive market sentiment towards the coin.
Another cryptocurrency analyst, Inmortal, also conveyed optimism about FLOKI’s future, drawing parallels to another meme coin’s success. Inmortal stated on X, “PEPE pumped.
FLOKI next. Muscle memory, contagion. Call it what you want, but it works.”
This sentiment underscores a broader belief in the meme coin’s market dynamics and potential for substantial gains.
At the time of the report, FLOKI’s trading value stood at $0.0002771, marking a 6.46% increase over the preceding 24 hours, signaling positive market movement for the meme cryptocurrency.
To submit a crypto press release (PR), send an email to [email protected].
The upcoming Bitcoin halving event, scheduled for April, is generating unprecedented excitement in the cryptocurrency world, fueled by a combination of unique factors.
This event marks the fourth Bitcoin halving, with previous occurrences in 2012, 2016, and 2020.
Significantly, this halving follows the U.S. Securities and Exchange Commission’s approval of the first spot Bitcoin ETFs in the United States, heightening the anticipation surrounding the event.
Experts are not just focused on the ETF approvals.
Julian Grigo, from Safe, emphasized the halving as a pivotal reminder of Bitcoin’s distinction from fiat currencies, particularly in a time of global inflation.
He highlighted Bitcoin’s fixed supply as a key attraction for investors, contrasting it with the inflating supply of fiat currencies and noting Ether’s decreasing supply as potentially even more appealing.
Joey Garcia from Xapo Bank predicts the halving will have a positive ripple effect on Ethereum and the broader market, likening Bitcoin’s scarcity mechanism to precious metals.
The reduction of mining rewards from 6.25 BTC to 3.125 BTC is expected to tighten Bitcoin’s supply, potentially increasing its price and, by extension, the prices of Ethereum and other cryptocurrencies as investors diversify their portfolios.
Alun Evans of Laos Network also acknowledged the halving’s broader impact, cautioning against the downsides of rapid price increases, especially for Ethereum, which powers numerous applications and smart contracts.
He suggested that future Ethereum network enhancements could mitigate these challenges by improving scalability and reducing transaction costs.
READ MORE: Shiba Inu’s Price Eyes Potential Surge Amid Market Speculation, Analyst Predicts Bullish Breakout
Beyond the halving, other factors are influencing the crypto market. Siddharth Lalwani of Range Protocol pointed to Ethereum’s upcoming Dencun upgrade and the potential for SEC-approved Ethereum ETFs as critical drivers of market dynamics.
Despite potential short-term liquidity shifts from Ethereum to Bitcoin, Lalwani remains optimistic about the crypto market’s bullish trend in 2024.
Jordi Alexander of Mantle and Aki Balogh of DLC.Link also weighed in, highlighting the role of Bitcoin’s price rally, upcoming Ethereum upgrades, and the strategic actions of entities like MicroStrategy in shaping market expectations.
They acknowledged the interconnectedness of Bitcoin and Ethereum’s fortunes, with Balogh emphasizing the broader impact of Bitcoin’s performance on the crypto ecosystem.
In summary, the forthcoming Bitcoin halving is viewed not just as a significant event for Bitcoin but as a catalyst for broader market movements, including Ethereum.
With factors like regulatory approvals, technological upgrades, and strategic market maneuvers at play, experts see a confluence of forces poised to shape the crypto landscape in the near and long term.
To submit a crypto press release (PR), send an email to [email protected].
In a recent turn of events, despite Binance’s decision to withdraw its operations from Nigeria, two high-ranking officials from the cryptocurrency exchange remain detained in Abuja, Nigeria’s capital.
Tigran Gambaryan, the head of Binance’s criminal investigations team, and Nadeem Anjarwalla, the regional manager for Africa based in Kenya, have been held without their passports for two weeks, as of March 12, according to a report by Wired.
The detention of Gambaryan, a former U.S. federal agent with a focus on cryptocurrency, and Anjarwalla began on February 26, 2024.
Despite the lack of clarity on the presence of criminal charges, the families of both executives have expressed their concern and uncertainty about their loved ones’ wellbeing and future.
Yuki Gambaryan, Tigran’s wife, voiced her frustration, saying, “There’s no definite answer for anything: how he’s doing, what’s going to happen to him, when he’s coming back.”
A Binance spokesperson confirmed the ongoing detention of the executives in Nigeria and stated, “While it is inappropriate for us to comment on the substance of the claims at this time, we can say that we are working collaboratively with Nigerian authorities to bring Nadeem and Tigran back home safely to their families.” Emphasizing their professional integrity, the spokesperson expressed confidence in a prompt resolution.
READ MORE: Arbitrum to Release $2.32 Billion in Vested Tokens, Sparking Market Speculation
The backstory to their arrest follows an invitation from the Nigerian government to discuss a dispute over Binance’s operations in Nigeria, which were deemed unlawful by Nigerian authorities.
Gambaryan and Anjarwalla arrived in Abuja on February 25 to meet with officials and discuss the government’s blockade of Binance and other crypto exchanges, accused of contributing to the devaluation of Nigeria’s currency, the naira, and facilitating illicit financial flows.
However, following their initial meeting, the executives were escorted from their hotel to a guesthouse managed by Nigeria’s National Security Agency, where their passports were seized.
Since then, they have been held there against their will, allege their families.
Both Gambaryan and Anjarwalla have received visits from officials of the U.S. State Department and the U.K. Foreign Office, respectively, though their discussions were overseen by Nigerian government guards, restricting private conversation.
This incident unfolded shortly before Binance formally announced its exit from the Nigerian market on March 5, following a series of measures restricting its operations, including the suspension of naira withdrawals and the removal of trading pairs involving the naira, as part of its phased withdrawal strategy.
To submit a crypto press release (PR), send an email to [email protected].
CoinShares, a leading European digital asset investment firm, has successfully finalized the acquisition of Valkyrie Funds, gaining the sponsor rights to Valkyrie’s spot Bitcoin exchange-traded funds (ETFs).
Announced on March 12, this significant acquisition also includes Valkyrie Investments, the firm’s investment advisory branch, and the sponsor rights to the Valkyrie Bitcoin Fund, a physically-backed Bitcoin ETF.
The terms of the deal stipulate that the acquisition price will be determined at the conclusion of a three-year earnout period, reflecting Valkyrie’s financial performance.
Additionally, this agreement extends CoinShares’ management to include Valkyrie’s diverse ETF portfolio, such as the Valkyrie Bitcoin and Ether Strategy ETF, Valkyrie Bitcoin Miners ETF, and the Valkyrie Bitcoin Futures Leveraged Strategy ETF.
Jean-Marie Mognetti, CEO of CoinShares, emphasized the importance of the U.S. market for global asset managers and highlighted the acquisition’s strategic benefits: “The Valkyrie acquisition is yet another step in our growth strategy with a special focus this time in the U.S.
This acquisition brings an additional $530 million AUM to CoinShares, which makes it a top-line contributor from day one.
More importantly, it broadens our product offerings, strengthens our innovation capacity, and increases by a factor of 15 our total addressable market.”
In the wake of this acquisition, CoinShares plans to rebrand Valkyrie and its offerings within its ecosystem.
READ MORE: Bitcoin ETFs Will Hold Over 10% of BTC Supply By Q3
This move is part of CoinShares’ broader strategy to enhance its asset management platform in the United States, following an option to acquire Valkyrie that was held since November 2023.
The announcement arrives amidst a surge in interest for Bitcoin ETFs, notably after Bitcoin reached a new all-time high of $71,415 on March 11.
This increased attention is mirrored by the Bitwise Bitcoin ETF, which recently became the fifth fund to exceed $2 billion in Bitcoin holdings, according to Dune data, with Grayscale’s Bitcoin Trust ETF maintaining its position as the largest, managing $29 billion in Bitcoin.
Given the current pace, ETFs are expected to annually absorb 8.98% of the Bitcoin supply, potentially triggering a sell-side liquidity crisis by September, as per Ki Young Ju, founder and CEO of CryptoQuant.
Ju noted, “Last week, spot ETFs saw netflows of +30K BTC. Known entities like exchanges and miners hold around 3M BTC, including 1.5M BTC by U.S. entities… At this rate, we’ll see a sell-side liquidity crisis within 6 months.”
To submit a crypto press release (PR), send an email to [email protected].
In his budget proposal for 2025, President Joe Biden is revisiting the concept of imposing a 30% tax on the electricity consumption of cryptocurrency mining operations.
This initiative is outlined in the “General Explanations of the Administration’s Fiscal Year 2025 Revenue Proposals,” a document from the U.S. Department of the Treasury.
The document criticizes the lack of current legislation specifically addressing the taxation of digital assets, aside from broker and cash transaction reporting.
To rectify this, the Biden administration proposes an excise tax on the electricity used in the mining of digital assets, akin to taxes on physical goods like fuel.
The Treasury explains, “Any firm using computing resources, whether owned by the firm or leased from others, to mine digital assets would be subject to an excise tax equal to 30 percent of the costs of electricity used in digital asset mining.”
Under this proposal, crypto mining entities would be required to disclose both the quantity and type of electricity they consume.
For electricity bought externally, firms must also report its value, which will then be used as the basis for the tax.
READ MORE: MicroStrategy Bolsters Bitcoin Treasury With $800 Million Note Offering, Purchases 12,000 BTC
Similarly, miners leasing computational power must declare the electricity’s value provided by the leasing company.
This measure, aimed to take effect from January 1, 2025, plans a phased tax introduction: starting at 10% the first year, 20% the second, and reaching 30% in the third year.
Crypto mining operations that generate their own power will also be subjected to this tax.
The 30% rate will apply to the estimated costs of their electricity consumption, regardless of whether they are connected to the grid or not.
This includes those utilizing renewable energy sources such as solar or wind power.
Pierre Rochard of Riot Platforms has criticized the move as an attempt to undermine Bitcoin and facilitate the launch of a central bank digital currency (CBDC).
U.S. Senator Cynthia Lummis has expressed her opposition to the tax on X, suggesting that while the administration’s inclusion of crypto in the budget may indicate a positive outlook on cryptocurrency, the proposed tax could significantly harm the industry’s position in the U.S.
This initiative marks Biden’s second attempt to implement a 30% tax on the electricity used by crypto miners, following a similar proposal in the 2024 budget proposal announced on March 9, 2023.
To submit a crypto press release (PR), send an email to [email protected].
Relai, a Swiss-based Bitcoin-only application, has announced an exciting development for its users – the integration of Blockstream’s Greenlight solution, which will introduce Lightning payment functionality to the platform.
This collaboration aims to enhance the Bitcoin payment experience for Relai’s user base, according to a detailed announcement provided to Cointelegraph.
Blockstream’s Lightning-as-a-service offering is being woven into the fabric of Relai’s dedicated Bitcoin wallet platform.
This integration is poised to empower approximately 100,000 Relai users with the ability to conduct Bitcoin (BTC) transactions swiftly and affordably via the Lightning Network, all the while retaining control over their private keys.
Importantly, this move allows Relai to bypass the need for creating and managing its own Lightning infrastructure.
The inception of Greenlight by Blockstream in June 2023 marked a significant stride toward facilitating rapid, cost-effective Bitcoin payments for developers and platforms, emphasizing user sovereignty over private keys.
Traditional custodial solutions, while convenient and quick to set up, often compromise user security and privacy.
In contrast, noncustodial services, which prioritize these aspects, typically demand extensive technical and operational input.
Greenlight’s novel approach divides custodial Lightning nodes into distinct, independently functioning components.
READ MORE: Arbitrum to Release $2.32 Billion in Vested Tokens, Sparking Market Speculation
It utilizes Core Lightning for its foundational structure, enabling all operations related to private keys to be executed on the user’s device, effectively making it the signer.
The rest, including operational requirements, are managed on Blockstream’s infrastructure.
This infrastructure is grounded in the Validating Lightning Signer project, ensuring thorough verification and safeguarding user autonomy over fund-related operations.
It mirrors the architecture of hardware wallets, which combine a user-operated client interface and signer with the wallet provider’s Bitcoin node that connects to the broader network.
This setup facilitates payment initiation and invoice signing by the user, with Blockstream managing the node responsibilities.
Founded in 2020, Relai has exclusively focused on Bitcoin trading and custody, boasting over $300 million in trading volume in its four-year history.
The platform’s pivot towards Lightning payments follows broader industry trends, with leading exchanges, including Coinbase, enhancing their Bitcoin transaction capabilities.
In September 2023, Coinbase, the largest U.S. exchange, announced its plan to adopt Bitcoin Lightning payments, underscoring Bitcoin’s pivotal role in the cryptocurrency ecosystem and its potential to enable quicker, more economical BTC transactions, as highlighted by CEO Brian Armstrong.
To submit a crypto press release (PR), send an email to [email protected].
In the dynamic world of cryptocurrency, Pepe Coin (PEPE) has emerged as a standout performer.
This weekend, it was in the limelight alongside giants like Bitcoin (BTC) and Ether (ETH), with both experiencing significant price increases.
BTC continued its streak of setting new all-time highs, while ETH crossed the $4,000 mark for the first time in two years.
PEPE also joined this upward trend, reaching a new all-time high, prompting large holders to secure profits.
Launched in April of the previous year, the frog-themed PEPE quickly became a prominent figure in the memecoin market, rivalling others like BONK and various Solana-based memecoins.
Despite a period of reduced attention, the recent market bull run has seen PEPE’s value soar, capitalizing on the positive market sentiment.
READ MORE: Bitcoin ETFs Will Hold Over 10% of BTC Supply By Q3
A significant transaction highlighted by Lookonchain involved a whale profiting over 431% in just two weeks, withdrawing over 1 trillion PEPE tokens from Binance in three separate moves before the price surge, culminating in an impressive $8.13 million gain from an initial $1.7 million investment in PEPE tokens.
This series of transactions underscored the substantial profits being made in the memecoin sector.
This surge in PEPE’s value is part of a broader resurgence in memecoin interest, with PEPE itself seeing an 800% increase in its value over the past month.
This has elevated it to the third largest memecoin by market capitalization, at $3.85 billion, reflecting a robust growth in trading volume and market activity.
Despite a slight dip from its all-time high, the community remains optimistic about PEPE’s position as a leading memecoin in this bull run, underscoring the continued fascination and confidence in the potential of memecoins within the cryptocurrency market.
To submit a crypto press release (PR), send an email to [email protected].
On March 13, just before the Wall Street trading session commenced, Bitcoin achieved a new milestone in price discovery, demonstrating a bullish edge over selling pressures.
This achievement was recorded with Bitcoin reaching unprecedented highs of $73,679 on Bitstamp, as per data provided by Cointelegraph Markets Pro and TradingView.
Following a slight pause in its upward momentum the previous day, where Bitcoin stabilized near $72,000 and momentarily dipped by $4,000, it swiftly rebounded, mirroring the early week’s market dynamics that initially restricted gains due to resistance.
According to CoinGlass, resistance at $73,800 briefly capped further advances. However, the path towards $80,000 appeared largely unobstructed, a sentiment supported by minimal liquidation levels.
Jelle, a renowned trader, noted on X (formerly Twitter), “Bitcoin wiped out overleveraged longs, retested the 2021 cycle high & then bounced back to $72,000,” indicating a positive outlook for continued upward movement.
Tedtalksmacro, a financial analyst, highlighted the significant surge in institutional investments surpassing previous records, even considering the introduction of new spot Bitcoin ETFs in the United States.
READ MORE: Grayscale Proposes New Bitcoin Mini Trust to Offer Tax-Efficient Investment Option
He shared with his X audience, “Fund inflows like we have never seen before. It makes 2020 look small… price will continue to catch up over the coming months,” suggesting a steady ascent towards $100,000.
He cautioned that historically, a peak in these inflows often signals a critical juncture to exit the market within the following 2-3 months.
Record-breaking inflows were observed in the ETF sector, with a notable $1 billion of net contributions recorded on March 12. BlackRock’s iShares Bitcoin Trust was at the forefront of this influx.
BitMEX Research highlighted, “A record 14,706 BTC inflow on 12 March 2024,” underscoring the significant demand.
This influx represents a substantial fraction of Bitcoin’s newly-mined supply in 2024, estimated at around 65,500 BTC.
As of March 13, the combined holdings of the two largest ETFs, managed by BlackRock and Fidelity Investments, amounted to over 330,000 BTC.
This figure is quintuple the quantity of Bitcoin mined during the same period, illustrating the massive scale of institutional participation in the cryptocurrency market.
To submit a crypto press release (PR), send an email to [email protected].
Zap Protocol’s ZAP token has breached the $0.01 mark after surging 42% in the last 24 hours, according to CoinMarketCap data.
This comes just hours after Crypto Intelligence News predicted ZAP, which was trading around $0.007 at the time, to surge over $0.01 within “the coming days or even just hours.”
Looking ahead, ZAP token is well positioned to rally as high as the $0.02-$0.03 mark before the end of March, with a medium-term price target of between $0.20 and $0.45.
Zap Protocol now has a market cap of around $2.4 million, and the token is still more than 100x away from its all-time high, leaving it with plenty of room for growth amid the current bull market.
Bitcoin (BTC), meanwhile is up by around 3.2% over the last 24 hours, currently trading at slightly over $73,200.
The world’s largest cryptocurrency has been rallying as a result of high demand for the recently approved spot Bitcoin ETFs, and the BTC price has increased by over 9% in the last 7 days.
This has propelled the broader cryptocurrency market, with Shiba Inu (SHIB) posting strong gains in the first week of March, but trading sideways in recent days.
Over the last 24 hours, SHIB is up by 1.6%, according to CoinMarketCap data.
SHIB still has lots of upside potential, but with a market cap of $18.8 billion, it will take significant inflows for Shiba Inu’s price to generate a high double-digit increase.